Guggenheim Capital LLC boosted its holdings in Portland General Electric (NYSE: POR – Get Rating) by 175.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 50,750 shares of the utilities provider’s stock after buying an additional 32,311 shares during the period. Guggenheim Capital LLC owned approximately 0.06% of Portland General Electric worth $ 2,686,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of POR. JPMorgan Chase & Co. raised its holdings in Portland General Electric by 95.5% in the fourth quarter. JPMorgan Chase & Co. now owns 5,941,339 shares of the utilities provider’s stock valued at $ 314,415,000 after buying an additional 2,902,218 shares during the period. First Trust Advisors LP raised its holdings in Portland General Electric by 670.8% in the fourth quarter. First Trust Advisors LP now owns 1,363,609 shares of the utilities provider’s stock valued at $ 72,162,000 after buying an additional 1,186,699 shares during the period. Millennium Management LLC raised its holdings in Portland General Electric by 494.9% in the third quarter. Millennium Management LLC now owns 652,984 shares of the utilities provider’s stock valued at $ 30,684,000 after buying an additional 543,221 shares during the period. Principal Financial Group Inc. raised its holdings in Portland General Electric by 37.0% in the fourth quarter. Principal Financial Group Inc. now owns 1,167,195 shares of the utilities provider’s stock valued at $ 61,766,000 after buying an additional 315,346 shares during the period. Finally, Morgan Stanley raised its holdings in Portland General Electric by 61.5% in the second quarter. Morgan Stanley now owns 355,401 shares of the utilities provider’s stock valued at $ 16,377,000 after buying an additional 135,368 shares during the period. Hedge funds and other institutional investors own 91.92% of the company stock.
A number of analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Portland General Electric from $ 53.00 to $ 58.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 19th. Mizuho reduced their price target on shares of Portland General Electric from $ 61.00 to $ 56.00 in a report on Friday, April 29th. Zacks Investment Research downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, April 19th. Credit Suisse Group started coverage on shares of Portland General Electric in a research note on Monday, April 25th. They set an “underperform” rating and a $ 55.00 price objective on the stock. Finally, StockNews.com started coverage on shares of Portland General Electric in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $ 56.33.
In other Portland General Electric news, Director Dawn L. Farrell bought 4,000 shares of the stock in a transaction that occurred on Thursday, May 26th. The stock was acquired at an average cost of $ 48.52 per share, with a total value of $ 194,080.00. Following the purchase, the director now owns 9,223 shares in the company, valued at $ 447,499.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.52% of the company stock.
Shares of POR stock opened at $ 49.42 on Friday. Portland General Electric has a 1 year low of $ 45.40 and a 1 year high of $ 57.03. The firm’s fifty day simple moving average is $ 50.55 and its 200 day simple moving average is $ 51.59. The firm has a market capitalization of $ 4.41 billion, a P / E ratio of 21.30, a price-to-earnings-growth ratio of 4.52 and a beta of 0.53. The company has a current ratio of 0.94, a quick ratio of 0.86 and a debt-to-equity ratio of 1.32.
Portland General Electric (NYSE: POR – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The utilities provider reported $ 0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $ 0.85 by ($ 0.18). Portland General Electric had a net margin of 8.62% and a return on equity of 7.74%. The business had revenue of $ 626.00 million during the quarter, compared to the estimate consensus of $ 610.48 million. During the same period last year, the firm earned $ 1.07 EPS. The company quarterly revenue was up 2.8% compared to the same quarter last year. Equities research analysts anticipate that Portland General Electric will post 2.57 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Monday, June 27th will be given a dividend of $ 0.4525 per share. The ex-dividend date of this dividend is Friday, June 24th. This is an increase from Portland General Electric’s previous quarterly dividend of $ 0.43. This represents a $ 1.81 dividend on an annualized basis and a yield of 3.66%. Portland General Electric’s dividend payout ratio is presently 74.14%.
Portland General Electric Company Profile: (Get Rating)
Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2021, the company owned an electric transmission system consisting of 1,274 circuit miles, including 287 circuit miles of 500 kilovolt line, 415 circuit miles of 230 kilovolt line, and 572 miles of 115 kilovolt line.
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